Every month we put together an income report to share a behind-the-scenes look at the ups and downs of running a 7-figure business. In full transparency, it’s not easy – but it IS possible. Through hearing about our mistakes, lessons learned, and our wins, we hope to inspire and motivate you to take action in your business with just one step forward every single day. For our full income report, visit EOFire.com/income128, and IGNITE!
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Guest Resource
CPAOnFire.com – Accounting, Tax & CFO Services for entrepreneurs.
3 Value Bombs
1) Tax extensions are all about timing, strategy, and staying ahead of the curve.
2) Managing a team is one of the toughest parts of being an entrepreneur.
3) Everyone approaches, manages, and navigates parenthood a little bit differently.
Sponsors
HubSpot: Scale support and drive retention and revenue all in one place with HubSpot’s all-new Service Hub. Visit HubSpot.com/service to learn how this all-new solution can help you deliver for your customers!
Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
[01:30] – Income review
- Gross Income for April: $132,488
- Total Expenses for April: $14,570
- Total Net Profit for April: $117,918
- Difference b/t April & March: +$27,414
- % of net profit to overall gross revenue: 89%
[02:08] – Ron’s April Tax Tip: Tax extensions
- The Tax Extension Game Plan
- Paying Your Dues
- Maximizing the Benefits
- Tax extensions are all about timing, strategy, and staying ahead of the curve.
- CPAOnFire.com – Accounting, Tax & CFO Services for Entrepreneurs
[7:06] – What Went Down In April: Interview of the Month w/ Clay Clark
- Experience The Ultimate 2-Day Interactive Life-Changing Business Growth Conference Featuring John Lee Dumas, Tim Tebow, Clay Clark & More!
- 3 Value Bombs
- If you want to thrive, move beyond surviving, build that successful company, start that company, grow that company, and live a life of abundance. The in-person 2-day Interactive Thrivetime show business workshops are absolutely game changing.
- As Michael Gerber said, the difference between great people and everyone else is that great people create their lives actively, while everyone else is created by their lives, passively waiting to see where life takes them next.
- It’s important to be recognized. People do judge us based upon the quality of our website, our print pieces, our photography, our video, our public relations, or our podcast.
- Learn How to Grow Your Business: The Ultimate 2-Day Interactive Life-Changing Business Growth Conference will be held on June 27th & 28th at Tulsa, Oklahoma.
[9:20] – Thanks to our sponsors!
- HubSpot: Scale support and drive retention and revenue all in one place with HubSpot’s all-new Service Hub. Visit HubSpot.com/service to learn how this all-new solution can help you deliver for your customers!
- Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
[11:31] – Knowing When to Let Go
- Managing a team is one of the toughest parts of being an entrepreneur.
- In April we made the difficult decision to let one of our team members go: Jess, who has been with us for 10 years.
- What used to be a full-time, critical position could very well be more like a “nice-to-have” addition.
- Knowing when to let go can be a very difficult thing to do as an entrepreneur, but a critical part of running a successful business.
18:32 – April 2024 Income Breakdown*
- Gross Income for April: $132,488
- Total Expenses for April: $14,570
- Total Net Profit for April: $117,918
- Difference b/t April & March: +$27,414
- % of net profit to overall gross revenue: 89%
[19:29] – Biggest Lesson Learned: Different levels of challenges
- Many of the challenges for us have been much more manageable than we imagined. …And some challenges have been a lot tougher than expected.
- Biggest lessons learned recently: that everyone approaches, manages, and navigates parenthood a little bit differently.
[23:08] – Thank you to our Sponsors!
- HubSpot: Scale support and drive retention and revenue all in one place with HubSpot’s all-new Service Hub. Visit HubSpot.com/service to learn how this all-new solution can help you deliver for your customers!
- Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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